2. Conditional Approval
If your submitted Rate Star loan application passes our initial approval process it becomes conditionally approved. This means that, based on the information provided in your application, you have satisfied our credit assessment requirements.
Conditionally approved does not mean that your loan has been formally approved yet. For formal approval, you will need to provide documentation to support your application.
Once your loan is conditionally approved we will email you a letter confirming this, and advising what specific documentation you need to send us to enable formal approval of your loan.
In order for Rate Star to proceed to the next step, we also need to receive originals of all the required documents listed in the email we send you following conditional approval and all conditions of approval need to be satisfied.
The specific documentation required can be found here and will also be listed in your conditional approval email.
To complete your application you will also be required to complete a proof of identification form.
Once we receive your documentation, we complete verification of your details.
Also at this stage we may need to organise the following:
- Valuation
- Lenders' Mortgage Insurance.
Next:
3. Valuation
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